I think the pvt banking players are taking a leaf out of what FMCG guys did back in the late 1990s-2000s. Back then HUL launched a program Operation Bharat in phases to increase the penetration of their products in rural India. At the time 70% of the revenues were coming from the urban areas. But rural markets were growing at thrice the speed of urban markets. Now we know how those efforts paid off for the FMCG companies. Something similar may be anticipated in the banking space also. Rapid and deep digitization could be a cause for worry. A news article I pulled from 2000 discusses the same.
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